Over 1.6 million businesses owed more than $58 billion in unpaid federal payroll taxes, including interest and penalties, as of last September, according to a new report.
The report, from the Government Accountability Office, faulted the Internal Revenue Service for not aggressively pursuing businesses that have been lax in remitting the payroll taxes that fund Social Security and Medicare. "IRS's overall approach to collection focuses primarily on gaining voluntary compliance -- even for egregious payroll tax offenders -- a practice that can result in minimal or no actual collections for these offenders," said the report.
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